News for Mahanagar Telephone Nigam Limited (MTNL.BO)

BSNL Q3 Results: The public sector telco reported a net loss of Rs 1,569.22 crore in Q3FY24. Its mobility services revenue grew 15% YoY, while fiber-to-the-home (FTTH) and leased line services saw YoY increases of 18% and 14%, respectively.

“This milestone reflects the company’s focus on innovation, aggressive network expansion, cost optimisation, and customer-centric service improvements,” BSNL said in an official statement.

The Union Cabinet last Friday approved an additional package of ₹6,000 crore to accelerate the 4G network expansion of BSNL and MTNL.

MTNL shares rose 10.26% to Rs 57.56 on Monday against the previous close of Rs 52.20 on BSE. Market cap of the telecom firm climbed to Rs 3,514 crore.

MTNL and BSNL have more than 600 land parcels and buildings across India, including prime locations in Mumbai, Delhi and Chennai.

MTNL share price: The stock zoomed 20 per cent to hit its upper price band of Rs 57.16. At this price, it has climbed 27.58 per cent in just two trading days.

MTNL share price: MTNL has been grappling with a growing debt burden. As of August 30, 2024, the company's total debt amounted to Rs 31,944.51 crore. Recently, MTNL defaulted on a Rs 1,000 crore loan repayment to Bank of India and failed to meet loan installments totaling Rs 5,726.29 crore to several lenders.

TCS: Presently, BSNL holds spectrum in 700 MHz, 900 MHz, 2100 MHz, 2500 MHz, and 3500 MHz frequency bands.

Ministry Of Home Affairs: On January 20, 2025, TCIL demonstrated the SMS header module designed for telcos to enable realtime interventions against its misuse in cyber-enabled frauds on the National Cybercrime Reporting Portal (NCRP).

BSNL: Ind-Ra estimates industry-wide tariffs to rise 6%-10% year-over-year in FY26, due to the base effect of the recent tariff hikes, and organic tariff growth of 3%-5% backed by the change in user mix.

BSNL: The public sector telecom carrier is reportedly spending 38% of its revenue towards the payment of salaries of employees, while the figure is in single-digit for private telcos.

The communications ministry plans to seek Cabinet approval once it secures clearance from the finance ministry.

BSNL: The public telecom entity spends nearly Rs 7,500 crores -- or about 38% of its revenue -- to meet employee salaries which it plans to cut down to about Rs 5,000-crore a year.

MTNL board approves VRS for employees aged 45+, aiming to cut costs and improve operational efficiency.

The Committee, in turn, recommended BSNL adopt a multi-pronged strategy, including expediting the testing and stabilisation of indigenous 4G technology, and partnering with foreign technology companies.

CARE Ratings upgrades Mahanagar Telephone Nigam Limited (MTNL) bond rating to CARE AAA from AA+, citing timely government debt repayments and a stable outlook for bonds worth Rs 24,071 crore.

Stocks including RIL, Infosys, Wipro, Axis Bank, LTIMindtree, Adani Enterprises, Kotak Mahindra Bank, TCS, Zomato and more will be the spotlight on Friday, October 18.

Stocks including NBCC, Jio Financial, GAIL (India), Adani Energy, Lupin, Paytm, Adani Wilmar, MTNL, TVS Supply Chain and more will be the spotlight on Monday, October 7.

US Federal Reserve cuts: While benchmark indices rallied close to 1 per cent in early trade and made new record highs, valuation concerns and a sharp selloff in the broader markets led to profit-taking